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Sabina Gold & Silver Announces Positive Preliminary Feasibility Study on Back River Gold Project, Nunavut

October 9, 2013

Significant high-grade gold production, at good margins, in a safe Canadian mining jurisdiction

Vancouver, BC – Sabina Gold & Silver Corp (SBB.T), (the “Company”) is pleased to announce it has received the results of the Preliminary Feasibility Study (“PFS” or the “Study”) for its 100%-owned Back River gold project (“Back River” or the “Project”) in Nunavut, Canada.

The Back River gold project is located in the West Kitikmeot Region of Nunavut, Canada and is situated approximately 75 km from tide water at Bathurst Inlet. The Project is made up of a series of seven claim blocks of which only two have been the primary focus of exploration and resource development to date: Goose and George.

The PFS was initiated in September of 2012 following the encouraging results of the Preliminary Economic Assessment (“PEA”) on Back River announced in May of 2012.

Key deliverables achieved with the 2013 PFS are:

  • economic, achievable mine plan focused on mining lower cost, higher grade material as early as possible in the mine life;
  • logistics and transportation plan that provides a clear picture of how equipment, supplies and personnel will access the Project during construction and operations;
  • capital and operating costs reflective of the expected costs of operating in the Canadian Arctic;
  • infrastructure designed to a level that facilitates completion of the Draft Environmental Impact Statement (“DEIS”); and
  • an execution plan proposing potential gold production beginning in Q4 2017.

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